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The global biopreservation market size is projected to reach USD 16.61 billion by 2030, registering a CAGR of 28.30% from 2023 to 2030, according to a new report by Grand View Research, Inc. The extensive use of preservation in hospitals and labs, rising funding assistance from government and private partners in healthcare, and an upsurge in research and development are fueling the industry growth.
Currently, there has been an upsurge in demand for the use of biopreservation to develop biological products in R&D of various sectors such as immunotherapies, vaccine production, antibody production, enzyme technology, and biologically produced chemicals. This impact is due to the rising number of chronic disease incidences globally. According to the Centers for Disease Control and Prevention (CDC), the leading cause of disease-related mortality in adults is the rising prevalence of cardiovascular disorders and cancer in the U.S.
Furthermore, government and private sectors have shown interest and supported funding activities in research and development, which has contributed to industry growth. In past years, the growing demand for preserving stem cells and developing biological medicines and products has gained investors’ focus on the field. This considerable healthcare spending is expected to grow in the market in the forecast period.
Gather more insights about the market drivers, restrains and growth of the Biopreservation Market
Detailed Segmentation:
Product Insights
The equipment segment held the highest market share of 78.75% in 2022 due to rising demand for bio-banking to preserve stem cells, DNA, plasma and tissue culture. The widespread acceptance and utilization of preservation have benefited adequate storage capacity and low maintenance is expected to boost the market.
Application Insights
The biobanking segment dominated the global market with a share of 70.65% in 2022. Rising awareness for stem cell preservation, increasing acceptance of sperm and egg banking, and utilizing assistant reproductive technology with animals. Pharmaceutical companies have collaborations with reserve bio-banks and tissue preservation with hospitals.
Regenerative medicine segment is expected to grow at a higher CAGR of 29.68% in the given forecast period owing to increasing demand for technologically advanced bio-storage techniques. In addition, launch of specific preservation techniques is expected to propel the segment growth in coming years.
Regional Insights
North America was the largest revenue-generating region in the biopreservation market in 2022 and held a share of 45.00%. This can be attributed to the presence of advancement in biomedical research and the development of advanced therapies. Furthermore, the rising number of chronic incidences that require treatments creates demand for biopreservation in the region which strengthens its market presence. Such activities are expected to contribute toward expanding the biopreservation product available in the market and drive growth.
Browse through Grand View Research's Biotechnology Industry Research Reports.
• The global cancer stem cells market size was valued at USD 2.89 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2030.
• The global DNA methylation market size was valued at USD 1.47 billion in 2023. It is expected to expand at a compound annual growth rate (CAGR) of 14.1% from 2024 to 2030.
Key Companies & Market Share Insights
Key players in the market are opting for strategic initiatives, funding facilities for geographical expansion, partnerships, mergers and acquisitions in key regions. For instance, in January 2023, the Hamad Medical Corporation and Qatar BioBank launched a new tissue biobank service in Qatar to provide researchers the access to high-quality tissue samples.
Some of the key players in the biopreservation market include:
• Azenta US, Inc.
• Biomatrica, Inc.
• BioLife Solutions
• MVE Biological Solutions
• LabVantage Solutions, Inc.
• Taylor-Wharton.
• Thermo Fisher Scientific, Inc.
• Panasonic Corporation
• X-Therma Inc.
• PrincetonCryo.
• Stirling Ultracold
Biopreservation Market Segmentation
Grand View Research has segmented the global biopreservation market on the basis of product, application, and region:
Biopreservation Product Outlook (Revenue, USD Billion, 2018 - 2030)
• Equipment
o Freezers
o Refrigerators
o Consumables
o Vials
o Straws
o Microtiter Plates
o Bags
o Liquid Nitrogen
• Media
o Pre-formulated
o Home-brew
• Laboratory Information Management System (LIMS)
Biopreservation Application Outlook (Revenue, USD Billion, 2018 - 2030)
• Regenerative Medicine
o Cell Therapy
o Gene Therapy
o Others
• Bio-banking
o Human Eggs
o Human Sperms
o Veterinary IVF
• Drug Discovery
Biopreservation Regional Outlook (Revenue, USD Billion, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Denmark
o Sweden
o Norway
• Asia Pacific
o China
o Japan
o India
o Australia
o Thailand
o South Korea
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
o Kuwait
Order a free sample PDF of the Biopreservation Market Intelligence Study, published by Grand View Research.
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